October 16, 2019 / 10:32 AM / a month ago

SE Asia Stocks-Markets track Asian peers to end higher; Philippines leads gains

    * Philippines at near 4-week high 
    * Singapore hits over a two-week high
    * Indonesia posts fourth straight day of gains 

    By Sameer Manekar
    Oct 16 (Reuters) - Southeast Asian stock markets ended
higher on Wednesday, in line with Asian peers, as strong U.S.
corporate earnings helped soothe concerns about a global
slowdown, while a potential breakthrough in Brexit deal
negotiations also aided sentiment.
    Major U.S. banks such as JPMorgan, Citigroup, and Wells
Fargo posted strong results on Tuesday. 
    Meanwhile, officials involved in Brexit deal negotiations
said that differences over the terms of the split had narrowed
significantly. 
    MSCI's broadest index of Asia-Pacific shares outside Japan
 rose 0.4%. 
    "Markets are being driven by pent-up demand after several
weeks of jockeying between U.S. and China prior to last week's
talks," Liu Jinshu, director of research at NRA Capital said.
    "In the longer term, existing tariffs will continue to drag
on growth and cloud outlook."
    Leading gains in the region, Philippine stocks rose
1% to its highest level in nearly four weeks. 
    Real estate and financial stocks were among the top
performers, with SM Prime Holdings rising 1.4%, while
Bank of the Philippine Islands advanced 1% on the back
of strong third-quarter results.
    Singapore stocks hit over a two-week high due to
gains in industrials and financials firms.
    Industrial conglomerate Jardine Matheson Holdings
and airport operator SATS Ltd strengthened 2.5% and
2.9%, respectively.
    Investors will now turn to the release of non-oil exports
data for Singapore on Thursday. The city-state, like other
trade-reliant Asian economies, has been hit hard by a prolonged
U.S.-China tariff dispute and a downturn in the electronics
sector. 
    Meanwhile, the Thai benchmark index posted a third
straight day of gains, boosted by utilities and industrials. 
    Electricity producer Global Power Synergy rose
4.3%. Airports of Thailand climbed 2% to its highest in
over 21 months.
    Malaysian stocks advanced 0.6%, buoyed by financial
and telecommunication sectors, with Hong Leong Bank Bhd
 and Digi.Com Bhd adding 1.8% and 1.7%,
respectively. 
    Indonesian stocks ended 0.2% higher after swinging
between positive and negative territory, while Vietnam stocks
 edged higher.  
    
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
    
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3134.71   3116.17         0.59
 Bangkok                1634.46   1627.01         0.46
 Manila                 7915.3    7840.31         0.96
 Jakarta                6169.592  6158.166        0.19
 Kuala Lumpur           1574.9    1566.23         0.55
 Ho Chi Minh            994.46    993.05          0.14
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3134.71   3068.76         2.15
 Bangkok                1634.46   1563.88         4.51
 Manila                 7915.3    7,466.02        6.02
 Jakarta                6169.592  6,194.50        -0.40
 Kuala Lumpur           1574.9    1690.58         -6.84
 Ho Chi Minh            994.46    892.54          11.42
 

 (Reporting by Sameer Manekar in Bengaluru; editing by
Uttaresh.V)
  
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